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Hot Topic Hawke’s Bay
Hot Topic Hawke’s Bay
Australia
2 mins to read

Mercer’s A$11m penalty sets benchmark for ‘greenwashing’

The pensions giant offered ‘sustainable’ funds that included investment in fossil fuels, gambling, and alcohol.

The Mercer case is one of three brought by Asic so far.

Australian corporate regulator Australian Investments and Securities Commission (Asic) has had a major win in its battle against ‘greenwashing’ of financial products, with pensions giant Mercer Superannuation fined A$11.3 million ($12.3m) last Friday.

The landmark case is the first penalty from

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Lachlan Colquhoun Mon, 05 Aug 2024
Contact the Writer: lachlan@nbr.co.nz
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Mercer’s A$11m penalty sets benchmark for ‘greenwashing’
Australia,
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